While Black business ownership remains at just 2.2% nationwide, some areas, including South Florida, have a better track record of boosting Black entrepreneurs.
The tri-county region is home to two of the five U.S. cities where Blacks fare best economically, according to a recent study from finance website SmartAsset. Pembroke Pines and Miramar both have a 3.11% Black business ownership rate, higher than most of the 129 cities considered for the analysis.
Some Black entrepreneurs say South Florida is more suitable for building their businesses, although racial disparities persist across the country. From business lending to compensation, financial prosperity for Black Americans is harder to attain when compared to those from other backgrounds, studies show.